"The fallout from the downfall of the automotive industry could be greater than many anticipated," the two experts say. "This could possibly lead to the demise of the remaining manufacturing sector, leaving the Australian economy vulnerable when the mining boom inevitably ends."

"The world's car-making landscape has changed dramatically and perhaps Australia's should too." they say. "China's Geely owns Volvo, India's Tata owns Jaguar and with GM's departure, it may be time to look beyond American and Japanese companies and think of alternative futures for Australian automotive manufacturing."